EASY to see how he gets there. In today's dollars, the construction cost of the arena would be 1bln. 820k sq. ft. of real estate at $850 per and you have 1.7 so its worth well over 2bln alone. The Knicks, Balmers bid for the Clips makes them worth 2bln at least. Rangers, Forbes had them at 750mln, they're now 1 bin easily. MSG network using an ebitda multiple of just 6x gets you to 2bln on the network (Univision ipo is shooting for a multiple of 11-15x ebitda). Cash on hand, the Forum in Englewood, Rocketts figure 1/2 billion total for those 3 things and NO DEBT. You're over 7 bin in market cap adding these assets up, on 77 mln shares outstanding…..7 billion/77 million = $90 per share

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